The Income Statement and Balance Sheet columns below are from the work sheet of the Mandle Company for the year ended December 31, 20--.

Mandle Company Work Sheet (partial) For the year ended December 31, 20--
		Income Statement			Balance Sheet
Account Title		Debit	Credit		Debit	Credit
Cash					24,000
Accounts Receivable					12,500
Merchandise Inventory					8,000
Store Supplies					550
Office Supplies					1,200
Prepaid Insurance					750
Store Equipment					33,000
Accumulated Depreciation—Store Equipment						19,000
Office Equipment					9,000
Accumulated Depreciation—Office Equipment						5,000
Accounts Payable						9,900
Salaries Payable						200
Long-Term Notes Payable						18,000
H. Mandle, Capital						45,300
H. Mandle, Drawing					16,000
Income Summary		8,500	8,000
Sales			31,000
Sales Returns and Allowances		250
Purchases		13,500
Purchases Returns and Allowances			350
Purchases Discounts			200
Sales Salary Expense (selling)		4,600
Office Salary Expense (general)		3,500
Store Supplies Expense (selling)		150
Office Supplies Expense (general)		200
Insurance Expense (general)		400
Depreciation Expense-Store Equipment (selling)		400
Depreciation Expense-Office Equipment (general)		450
		31,950	39,550		105,000	97,400
Net Income		7,600				7,600
		39,550	39,550		105,000	105,000

Required:

Prepare a multi-step income statement for Mandle Company for the current fiscal year. Include separate sections for selling expenses and general expenses under the heading "Operating Expenses" by using the classifications provided in the Account Title column of the work sheet.

Mandle Company
Income Statement
For the year ended December 31, 20--
Revenue:
Sales			$
Less Sales returns and allowances
Net sales				$
Cost of goods sold:
Merchandise inventory, January 1, 20--			$
Purchases		$
Less Purchases returns and allowances	$
Less Purchases discounts
Net purchases
Goods available for sale			$
Less merchandise inventory, December 31, 20--
Cost of goods sold
Gross profit				$
Operating expenses:
Selling expenses:
Sales salary expense		$
Store supplies expense
Depreciation expense-store equipment
Total selling expenses			$
General expenses:
Office salary expense		$
Office supplies expense
Insurance expense
Depreciation expense-office equipment
Total general expenses
Total operating expenses
Net income				$